The “norm” for several years has been capital flight from Algeria abroad. But it also happens that money flows in the other direction. This reveals an incredible case in the hands of the Canadian justice system involving two Algerian-Canadian fifty-year-olds.
According to the Canadian Press, the two individuals transferred enormous sums from Canada to Algeria via China. The two men are identified by La Presse.ca as Saïd Aimeur, 55, and Nesreddine Atoui, 58. The first lives in the city of Laval, the second in the metropolis of Montreal.
It was a Royal Canadian Mounted Police investigation launched in December 2021 that uncovered suspected large-scale human trafficking. The investigation was carried out by the Joint Proceeds of Crime Unit of these security forces.
He had been alerted by the Center for Analysis of Financial Operations and Declarations (FINTRAC) after “reports of dubious bank transactions.”
Canada: Two Algerians charged with illegal money transfers
The Royal Canadian Mounted Police said in a news release that its services were able to determine that the two men developed a “strategy” to collect funds in Canada and route them via China to their final destination, Algeria.
The same source did not provide many details about the “strategy” or the destination of the currencies once they arrived in Algeria. She simply pointed out that the two men had resorted to setting up an illegal exchange office, which, according to the same Canadian newspaper, was a violation of the “Laundering of Proceeds of Crime and Financing Activities Act.”
The sums that the two men were able to collect and transfer to Algeria are colossal: $20 million.
The Canadian Gendarmerie does not say how many years this deal lasted. All we know is that the investigation was launched almost two years ago. The penalties for the two men are severe. They face up to five years in prison and a $500,000 fine.
La Presse.ca says it tried in vain to get the man named Saïd Aimeur to respond. He is portrayed as an entrepreneur who is active in the wholesale food business.
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